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Court sides with Tryg Forsikring in pension scheme adjustment case

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Court sides with Tryg Forsikring in pension scheme adjustment case

A court has ruled in favor of Tryg A/S subsidiary Tryg Forsikring A/S in a case over a pension scheme adjustment that the Danish company made in 2014, according to a May 22 news release.

In 2016, Tryg Forsikring received a notice of action from the Finance Sector Union of Norway on behalf of a group of pensioners over the allegedly wrongful pension scheme adjustment. The Danish company had disagreed with the allegation and estimated that the claim could reach 300 million Danish kroner, after tax.

The ruling could be appealed within four weeks.

As of May 22, US$1 was equivalent to 6.32 Danish kroner.